Jun 23, 2022 - Real Estate

Apartments coming to historic downtown tower

Tyler Buchanan

Illustration of the state of Ohio, with scaffolding in front. — Illustration: Allie Carl/Axios

A $5 million historic preservation tax credit is helping redevelop a vacant downtown tower into new residential and commercial space.

State of play: The $89 million project involves building 336 apartment units and commercial spots on the lower floors of the 26-story Continental Center property.

Located at the corner of Gay and Fourth streets, the building was once the headquarters of Ohio Bell Southwestern.
Its last business tenants departed during the pandemic.

Driving the news: The state announced nearly $40 million in tax credits to aid with rehabilitating dozens of historic buildings across Ohio, including this $5 million.

Separately, the state is chipping in $243,000 to restore an old railroad depot on Delaware's Lake Street into a bar and restaurant.

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Apartments coming to historic downtown tower

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